Bunge Opens Terminals to Boost Brazil Exports
Bunge Ltd. inaugurates on Friday two grain- and oilseed-loading terminals in Brazil that will increase its export capacity from that country by 4 million tons a year.

De Blasio Names Heads of Consumer Affairs, Rent Board
Mayor Bill de Blasio named longtime Lower Manhattan community leader Julie Menin as commissioner of the New York City Department of Consumer Affairs. He also appointed Rachel Godsil, a law professor and former federal prosecutor, as chairwoman of the Rent Guidelines Board.

Texas Court Rejects Armstrong's Attempt to Block Bonus Review
A Texas appeals court rejected Lance Armstrong's attempt to block an arbitration panel from reviewing $12 million in bonuses paid to him by a Dallas-based prize-insurance company that would like its money back.

Solarte Helps Yankees Bash Red Sox
The Yankees exploded against the Sox on Thursday, beating them 14-5—albeit with plenty of help from the Red Sox themselves. The sloppy Sox committed five errors, making eight runs unearned.

First Bets Laid on New Casinos
Nearly two dozen groups each paid a $1 million application fee for the chance to open an upstate casino, with the most intense interest focused on the areas closest to New York City.

Judge Voids New York Cap on Super PACs
A federal judge on Thursday overturned New York's cap on contributions to independent political-action committees, saying it violates a U.S. Supreme Court ruling that allows unlimited spending in elections.

Photos: Ladies' Home Journal Through the Years
Ladies' Home Journal, one of the country's oldest women's magazines, will end regular monthly publication in July. The magazine will be converted to a quarterly newsstand-only title this fall.

Alibaba Co-Founders Set Up Philanthropic Trusts
Jack Ma, the co-founder of Chinese e-commerce giant Alibaba, is pouring much of his personal wealth into the creation of one of Asia's largest philanthropic trusts, highlighting what many see as the dawn of a new era of giving among China's freshly minted billionaires.

Syria Civil War Forces Brutal Split in Aleppo
The once-vibrant city of Aleppo, Syria, now stands as exhibit A in what the country's civil war has become: A ghastly, grinding stalemate in which civilians are paying the highest price.
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From Scribbles to the Screen
Illustrator Ralph Steadman reflects on his life and art, before and after his manic adventures with Hunter S. Thompson, in 'For No Good Reason,' a documentary that opens Friday in New York.

Aleppo, a Tale of Two Cities
Syria's grinding civil war has traumatized and divided the historic city of Aleppo, Syria, where regime forces and allies control most of the western half, and a hodgepodge of rebel factions hold the rest.

Vanity Fair Courts Tribeca Stars
Sometimes, on the New York party circuit, you are gripped with fear that you've chosen to attend the wrong event. Vanity Fair's party for the Tribeca Film Festival on Wednesday was not one of those nights.

BofA Ex-CFO Settles Merrill Case
Former Bank of America finance chief Joe Price agreed to pay $7.5 million under an agreement with New York state's attorney general, settling a long-running battle over the acquisition of Merrill Lynch.

An Inaugural Lunch—With a Mission
At the Bowery Mission's inaugural Inspiring Hope benefit lunch, guest of honor Katie Couric pointed out that it was indeed a privilege to 'wear nice clothes and have wine with lunch'—one not afforded to many New Yorkers.

Theater Review: 'Casa Valentina,' 'Hedwig and the Angry Inch' and 'Cabaret'
With three new shows opening this week in which cross-dressing figures prominently, Broadway's new motto seems to be "All Transvestism, All the Time!"

U.S., Japan Fail to Clinch Trade Deal
The U.S. and Japan failed to meet a goal of reaching a broad agreement on free trade during President Obama's three-day stay in Tokyo, Japan's economy minister said.

Picking Up the Paints for At-Risk Youth
Simon Doonan, Bernadette Peters, David Karp and others spend an evening painting with students at Stir, Splatter and Roll, a fundraiser for the youth organization Publicolor.

Chicago Doctor Killed in Kabul Hospital Shooting
A local pediatrician and longtime volunteer in Afghanistan was gunned down Thursday in Kabul, along with two others on the grounds of the hospital at which he was worked.

Detective Facing Charges
A New York Police Department detective was charged with drunken driving and is being investigated in the accidental shooting of his partner while on duty Thursday, law enforcement officials said.

Collins Named an MVP Off the Court
Jason Collins was named one of Time magazine's 100 Most Influential People, having been successfully nominated for the honor by his former Stanford classmate Chelsea Clinton.

Colombia Aims to End Standoff Between Oil Companies, Indians
Colombian officials will meet with some 300 U'wa Indians in the hopes of ending a standoff that has prevented oil companies from repairing a pipeline damaged by rebels.

Wal-Mart Shuffles Asia Leadership
The chief executive of Wal-Mart's Asia division Scott Price is stepping down from his role to take an international strategy position at the company's headquarters while Sean Clarke will head China operations.

Ukraine Halts Military Push
Ukrainian forces moved in on a pro-Russian stronghold, but quickly halted their advance after Russia activated the thousands of troops it has massed just across the border.
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Domino Site Deal Reached
The City Council has struck a deal to allow for tall towers at the former Domino Sugar refinery on the Brooklyn waterfront, the first significant land-use proposal under the new mayoral administration.

Yankees' Nova Will Have Surgery
Pitcher Ivan Nova will undergo Tommy John elbow-ligament reconstruction surgery next week, a development that seemed inevitable since it was learned that he suffered a partially torn ulnar collateral ligament.

52.84Time, in seconds, for Michael Phelps in Thursday's 100-meter butterfly preliminary heat at the Arena Grand Prix in Mesa, Ariz. It was his first competitive swim since the 2012 London Olympics and the second fastest for a U.S. man this year. (Source: USA Swimming, FINA)

Painted Portraits in Film Noir
A new book, 'The Dark Galleries,' catalogs close to 100 prop portraits. Many of the paintings had pivotal roles in the crime thrillers and suspense-driven stories of the era.

Volkswagen Temporarily Laying Off 900 in Brazil
Volkswagen is temporarily laying off about 900 workers at its Anchieta plant near São Paulo, Brazil, due to slow sales, according to the local workers union.

Rio Officials Investigate Dancer's Death
Authorities here aren't ruling out police involvement in the violent death of a well-known dancer that has sparked unrest in a favela near the city's main tourist districts.

VA Expands Probe of Phoenix Hospital
The Department of Veterans Affairs said it has expanded an investigation of a Phoenix hospital where a whistleblower alleges that as many as 40 veterans died amid lengthy waits for appointments.

North Carolina Judge Puts Teachers' Tenure Law In Question
A North Carolina judge has given two school districts temporary reprieve from part of a new law that ends teacher tenure, potentially upending the controversial policy a year after it was adopted by state lawmakers.

UPS to Take Charge on Health-Plan Shift
UPS will record a $1.05 billion pre-tax charge in the second quarter as it moves about 125,000 unionized package delivery employees off its own health-care plan and into multi-employer health-care plans.

E-Cig Makers Breathe Easier After FDA Proposes Rules
E-cigarette makers breathed a sigh of relief Thursday as the FDA avoided a heavy-handed approach to regulating the fast-growing alternative to traditional smokes, likely paving the way for stepped up investments.

Radioactive Release at New Mexico Site Called 'Preventable'
A radioactive release above ground during a February accident at an underground federal nuclear-waste repository in New Mexico was 'preventable,' according to an Energy Department report.

U.S. Uncertain of Next Russian Move
The U.S. has been tracking intensified activity by Russian forces on Ukraine's borders, but U.S. officials said they don't know whether the stepped-up exercises signal that Moscow intends to intervene militarily in Ukraine.

Zimmer-Biomet Deal Shakes Warsaw, Ind.
A $13.35 billion deal to combine two medical-device makers—Zimmer and Biomet—is big news for Warsaw, Ind., where both companies are based, and which proudly calls itself the "Orthopedic Capital of the World."

Affirmative-Action Ruling's Reach Seen Limited
The ruling allowing Michigan voters to ban race-based public university admissions was cheered by some opponents of affirmative action, but it is too soon to tell if it will lead to additional state bans.

White House Warns Bill Would Crimp Food Aid
A little-noticed provision in a bill passed by the House this month calls for relying more on U.S.-flagged ships to deliver food aid to foreign countries—a change backed by labor groups and criticized by the White House.

Ukraine's Divisions Extend to East Itself
The disparity between protests in Ukraine's west and east reflect national differences that are at the center of the current crisis—as well as the mixed feelings in Donetsk itself.

Bank of America Names President of Strategic Initiatives
Bank of America Corp. named its chief risk officer, Terry Laughlin, to the newly created role of president of strategic initiatives, overseeing efforts to simplify work flow and reduce complexity at the bank.

A Tale of Two Elizabeths
The story of how a middle-class girl rose to the Senate—and came to see the market economy that gave her the chance as 'rigged.' Mary Kissel reviews "A Fighting Chance" by Elizabeth Warren.

Alibaba Puts Record in Sight
Alibaba and its bankers are discussing adding new shares to the company's IPO, a move that would allow the e-commerce giant to raise funds for itself and could push the size of the deal to a record.

GM Customers Shrug Off Car Recalls
General Motors' first-quarter earnings fell 82% but exceeded Wall Street's expectations as its push to sell cars and trucks at higher prices in North America helped offset some of the costs of safety recalls.

The Fine Art of Spring Fashion
Fashion designers are channeling their artistic muses this spring, creating walking works of art. Our guide to getting the look of your favorite art movement, from Abstraction to New European Painting.

Stars' Designs on the Block
'The Architect,' the April 29 Phillips auction curated by American architect Lee Mindel, brings together some of the best designs by architectural stars from the past two centuries.

Amazon Tries Its Own Deliveries
Amazon is testing its own delivery network for the final leg of a package's journey to consumers. The new delivery efforts will get Amazon closer to a holy grail of e-commerce: same-day shipping.

Views From the Top of the World
As penthouses multiply—and command ever higher prices—they've become their own segment of the luxury market. A look inside homes around the globe that feel like they're on top of the world.

Saudi Arabia to Regulate YouTube Content
The move comes after an explosion of news, satire and comedy that has made the kingdom the biggest per capita consumer globally of Google Inc.'s video platform.

Backstage With Celia Imrie
Celia Imrie, who currently can be seen in 'The Love Punch,' has made a career of playing enticing and feisty women. The British actress on breaking into Hollywood, getting older and a truly bad hair day.

McKinsey Director Named to Promote Investment in Palestinian Economy
The quartet of nations and international organizations formed to promote peace between Israel and the Palestinians has appointed Kito de Boer of McKinsey & Co. to boost investment in the Palestinian economy.

The 'Under the Tuscan Sun' Novelist's Dixie Dwelling
A memoirist rediscovers the South on a 30-acre property dating back to 1770; fragrant English gardens, marching storms and hopes of finding a long-forgotten buried treasure

Tech Firms Settle Suit Over Wages
Apple, Google, Intel and Adobe Systems agreed to settle a lawsuit in which 64,000 employees accused them of conspiring not to recruit each other's workers, depressing wages. A person close to the defendants said the settlement price was around $325 million.

FDA Approves HPV Test That Could Be Used Instead of Pap Smear
The Food and Drug Administration on Thursday approved the first DNA test for human papillomavirus, or HPV, that could be used instead of the Pap test in a cervical-cancer screening program.

Killing of Politician in Eastern Ukraine Stirs Anger, Suspicion
A former police detective turned pro-Europe city councilman has been transformed into a political martyr since turning up dead in a nearby river last weekend.

Brazil's Former President: True Middle Class Hasn't Yet Emerged
Brazil has created millions of new consumers in recent years but a true middle class has yet to emerge, according to former Brazilian president Fernando Henrique Cardoso.

Auto Makers See Blue Skies in China
China's economic growth may be slowing, but for global auto makers pouring investment into new models, factories and more dealerships, the Middle Kingdom is still the land of opportunity.

Foreclosure Errors Top Reported Rate
A consulting firm that scoured major U.S. banks' foreclosure files was finding far higher rates of error than regulators reported when they abruptly ended the review last year.

An Alstom-GE Deal Would Face Scrutiny
If General Electric attempts to buy Alstom's energy business, the deal could raise concerns among antitrust regulators, as when the company pursued a Honeywell merger in 2001.

Price Increases Help Home Builders Offset Weaker Demand
Many signs point to weaker demand for newly built homes this spring than a year ago, but a few national builders are reporting better financial results partly by relying on continued price increases.

From Broadway To Heavy Metal
Most musical theater performers moonlight on the cabaret circuit. But Lena Hall, currently starring as Yitzhak opposite Neil Patrick Harris in "Hedwig and the Angry Inch," moonlights as a heavy metal singer in a band called the Deafening.

German Team Urged to Shun Moscow
The Schalke soccer club is one of a number of German companies trying to take a business-as-usual stance with Russia as they come under political pressure to avoid appearing to part of Moscow's propaganda efforts.

Cerner Earnings Rise 8.6%
Cerner Corp. said its first-quarter earnings rose 8.6% on strong bookings and revenue. The health-care information-technology company also raised the low end of its full-year guidance by a penny.

KKR Enjoys Profit and Sale
KKR posted first-quarter earnings that beat Wall Street expectations, and the buyout shop continued to see benefits from previous takeovers, reaching a multibillion-dollar deal to sell a company it owns.

Allergan Investor Doesn't Favor Offer
A sizable investor in Allergan doesn't favor the offer Valeant Pharmaceuticals International has made for the Botox maker, in conjunction with activist William Ackman.

Barclays Rebuked Over Pay
Barclays shareholders made a fresh protest against high employee bonuses at a lively annual meeting that showed the scant progress Chief Executive Antony Jenkins has made in rebuilding trust with investors.

Costly Hepatitis Drugs Vex Prisons
The high price of new hepatitis C drugs is keeping them out of reach of many inmates, limiting the ability to cure the disease in one of the nation's largest infected populations.

FTC Blog: Laws Preventing Sales by Car Makers Like Tesla Are 'Bad Policy'
Blog post by staffers at the Federal Trade Commission said laws that limit direct sales of automobiles from manufacturers, such as Tesla, are "bad policy."

Ladies' Home Journal to End Monthly Publication
Meredith Corp.'s Ladies' Home Journal, one of the country's oldest women's magazines, will end regular monthly publication this July, the victim of declining ad revenue.

Italy's Plea for Leeway Puts Brussels in a Bind
Brussels Beat: The problem of Italy's debt is shaping up to be a key test of the European Union's complicated new system for controlling the finances of its member states.

Barclays to Pay $280 Million Fine over Mortgage Securities
Barclays PLC said it would pay $280 million to settle a lawsuit filed by a top U.S. regulator over mortgage securities the bank sold to mortgage companies Fannie Mae and Freddie Mac during last decade's housing bubble.

Photos of the Day: April 24
In photos picked Thursday by Wall Street Journal editors, a woman mourns on the anniversary of a garment-factory collapse in Bangladesh, a South Korean coast guard official is surrounded, an Indian police official reacts after an attack, and more.

Under Armour Takes Aim at Running Market
CEO Kevin Plank said the running category will be the biggest revenue opportunity for Under Armour in the future, as the athletic-goods maker reported a jump in first-quarter profit and revenue.

NLRB to Review Northwestern's Appeal of Student-Athletes' Union Decision
The National Labor Relations Board has agreed to review Northwestern University's request to overturn a decision that declared its scholarship football players employees who can unionize.

Ireland Calls on U.S. to Speed Norwegian Air Approval
Aviation authorities in Ireland have reached out to the Federal Aviation Authority to find out why U.S. carrier permit approval for Norwegian Air Shuttle's Irish subsidiary is taking so long.

N.Y. Times Shows Rare Print Ad Revenue Gain
New York Times print ad revenue rose in the first quarter. The last time that occurred was the fourth quarter of 2005. But the rare uptick for a newspaper publisher appears to be more a blip than a sign the industry has bottomed out.

Broadcom Profit Falls 14%
Chip maker said its first-quarter profit fell 14% as the chip maker's revenue and product margin slipped. The company projected revenue of about $2 billion to $2.1 billion for the current quarter.

Global Oil Prices End at Seven-Week High
Brent oil, the international benchmark, strengthened to a seven-week high as the interim Ukrainian government called on the U.S. and European Union to impose broad sanctions on Russia, the No. 2 oil-exporting nation.

Poloz Looks to U.S. Demand, Currency Weakness to Boost Exports
Canada's top central banker is pinning his hopes on those sectors that would benefit from a pickup in U.S. activity and a weaker domestic currency to boost exports and drive economic growth.

South African Platinum Producers To Offer Wage Deal Directly to Strikers
With talks to end three months of strikes across South Africa's platinum mining heartland at an impasse, producers said they would bypass the union and offer a new wage deal directly to their employees.

Treasury Bonds End Session on Flat Note
Treasury prices initially fell on an upbeat U.S. business-spending release, but the market regained ground as tensions between Russia and Ukraine boosted demand.

Caterpillar Earnings Beat Estimates
Caterpillar's first-quarter profit rose a better-than-expected 4.8% on mostly flat sales as the maker of construction equipment continues to deal with a slowdown in its mining-equipment business.

GM Confirms Probes Under Way
GM confirmed in a government filing that it is under investigation by federal prosecutors, the SEC, a state attorney general, Congress and the NHTSA for its handling of a recent rash of recalls.

France Recommends Uber Drop Maps
France may force online car-service companies such as Uber Technologies to forgo providing maps that pinpoint nearby cars-for-hire in their popular apps, the latest twist in a battle that has spread across Europe between traditional cabs and the car-hailing apps.

Apple Plans Another Large Debt Sale
A year after it pulled off a then-corporate record $17 billion bond sale, Apple's plans to raise a "similar" sum this year highlight strong investor demand for debt issued by highly rated companies.

Ukraine Still Trying to Find Way to Receive More EU Gas
Ukrainian and Slovak officials said issues remain with a plan to give Ukraine a new delivery channel for natural gas from the European Union as an alternative to Russia.

Banco Bradesco to Accelerate Credit Expansion
Banco Bradesco, one of Brazil's largest banks in terms of assets, expects to accelerate its credit expansion this year, after a relatively tepid performance in the first quarter.

Takeda May Not Cover Lilly's Share of Diabetes-Drug Lawsuit
Eli Lilly & Co. said former marketing partner, Takeda Pharmaceutical Co., has told Lilly it may not cover the Indianapolis company's share of a jury verdict ordering the companies to pay $9 billion in damages.

Malaysian Leader Aims to Reset Course
Prime Minister Najib Razak hopes to highlight Malaysia's potential as a trade partner with the U.S. and is eager to show that his government is succeeding with its part in the multinational search for Malaysia Airlines Flight 370.
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Denmark Raises Deposit Rate to 0.05%
The Danish central bank Thursday raised one of its most important interest rates in an effort to support the Danish currency, which has weakened against the euro over recent months.

Strong Euro Saps Renault Growth
French car maker Renault says the euro's appreciation against emerging-market currencies had erased organic growth of its revenue in the first quarter, but the company reaffirmed its full-year earnings guidance.

Should Aereo Be Able to Resell TV?
The broadcasters lawsuit is founded on their objection to Aereo's unauthorized attempt to resell, for a profit, the programming that they transmit over those airwaves at a cost of many hundreds of millions of dollars.

Public Pensions and Economic Growth
If Calpers benefits returned $10.85 in economic activity to California for each taxpayer dollar contributed, all we have to do is keep hiring more public employees and we'll all be rich!

Vivendi Plans $7 Billion in Dividends, Buybacks
Vivendi plans to plow $6.89 billion into dividends and share buybacks this year and next, following a flurry of asset sales to refashion the company into a smaller group based around media.

Minimum Wage, $14 Sandwiches and Regular Eaters
What Craig Jelinek really means is that he supports an increase in the federal minimum wage because it would have no impact on Costco, given its current business model.

Kering to Reorganize Brands
Kering said it was confident its performance would improve this year, even as first-quarter revenue grew only slightly from a year earlier, dented by a drop in sports and lifestyle products sales.

Architecturally Sound
American architect Lee Mindel crisscrossed the globe to source artifacts for Phillips's April 29 "The Architect" auction. They include pieces from some of architecture's most significant practitioners.

Prominent Pakistani Officer, Three Others Killed by Bomb
A leading Pakistani counterterrorism police officer and three others were killed by a suicide bomber Thursday, in the latest attack in the volatile port city of Karachi.

Decimated South Korean School Reopens After Ferry Disaster
When Danwon High School reopened on Thursday, it was without its second-year class. Of 325 students, who went on last week's ill-fated school trip only 75 returned. They will remain on leave, their future uncertain.

Vinci Revenue Increases 2.4%
Construction and pay-toll highway group Vinci SA Thursday reiterated its expectations of a flat revenue this year compared with the previous. Revenue in the first quarter increased 2.4%, boosted by highway and parking lot businesses which offset a disappointing performance of the rest of its activities.

Ukraine Calls on U.S, Europe to Harden Russia Sanctions
Ukraine's interim government on Thursday called for the U.S. and European Union to impose broad sectorial sanctions on Russia "as quickly as possible" in response to what Kiev says are the Kremlin's escalating efforts to destabilize eastern Ukraine.

Federal Judge Dismisses Bank-Examiner Case Against New York Fed
A federal judge dismissed a case against the New York Fed brought by a former bank examiner who said the regulator fired her for her views on Goldman Sachs.

Canadian Software Firm Kinaxis Plans IPO in Coming Weeks
Canadian software company Kinaxis is preparing an initial public offering, according to people familiar with the matter, signaling a resurgence in Canada's IPO market

Ukraine Tensions Dent Stock Rally
Signs of a pickup in takeover activity spurred a rise in European stocks Thursday, although a renewed flare-up of tensions between Russia and Ukraine dented early gains.

Israel Suspends Peace Talks With Palestinians
Israel suspended peace talks and imposed economic sanctions on Palestinians over President Mahmoud Abbas's agreement to form a unity government with Hamas, the Islamist group that has pledged to destroy Israel.

E-Cigarettes Face Regulations
The FDA proposed the first federal regulations on electronic cigarettes, which would ban sales of the devices to anyone under 18 and require makers to gain FDA approval.
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Telekom Austria's Shares Rise on News of Deal
An agreement between the company's main shareholders, a government holding company and Carlos Slim's América Móvil, will give likely give the Mexican company operational control.

Aetna Raises Outlook on Strong Growth
Aetna said its first-quarter net income jumped 36% amid higher membership and revenue thanks to its acquisition last year of Coventry Health Care. The health insurer raised its full-year earnings forecast.

Rubber Falls to Four-Year Low
The price of rubber has tanked to the lowest level in more than four years. The selloff accelerated in recent days as the Southeast Asian cartel that controls the majority of production refrains from cutting supply.

Rome Braces as Popes Become Saints
Rome, already straining to handle crowds drawn by the immensely popular Pope Francis, is girding for an epic flow of pilgrims with this Sunday's canonization of two other beloved pontiffs, Pope John Paul II and Pope John XXIII.

Group 1, Penske Report Higher Earnings Off Strong March Sales
Two of the nation's largest auto dealership chains reported higher profits as strong sales in March helped offset a weather-related slowdown in store traffic in January and February

The Kowloon Walled City in Hong Kong was once the most densely populated place on earth that 33,000 people called home. Demolished two decades ago, the virtually lawless labyrinth still lives on in movies, books and even a Japanese theme park.

Companies Apply to Run New Casinos in New York State
Nearly two dozen groups have paid a $1 million application fee for the chance to open a casino in upstate New York, according to information released Thursday by the New York State Gaming Commission.

For First Time, Verizon Loses Cellphone Customers
Verizon lost wireless customers for the first time ever, as its rivals launched a bitter fight for new subscribers. It lost roughly 138,000 net postpaid phone customers in the first quarter.

GTCR, Golden Gate Vie for Medical-Device Contract Manufacturer
Private-equity firms GTCR and Golden Gate Capital are the two remaining bidders for health-care contract manufacturer Phillips-Medisize Corp., in a deal that could fetch as much as $800 million, said three people familiar with the situation.

Banks Cut Lending Says BIS
Banks cut their international lending for the seventh straight quarter in the three months to December, with the euro zone once again leading the retrenchment, said the Bank for International Settlements.

Time Warner Cable Profit Jumps on Higher Subscriptions
Time Warner Cable said its first-quarter profit jumped 19% as the cable operator logged growth in high-speed internet and business services revenue, while adding to its overall residential subscriptions.

Ukraine No Hindrance To Gas Flow, Says GDF Suez Chief
Geopolitical tensions shouldn't have an impact on the flow of natural gas from Russia to Europe as this remains crucial for both sides, the head of French power utility GDF Suez said.

Actavis Settles Celebrex Case With Pfizer
Actavis said it has settled all patent litigation with Pfizer Inc. over the generic version of painkiller Celebrex, and that Pfizer has granted it license to start marketing its generic version of Celebrex in December or perhaps earlier.

3M Profit Boosted by Optical Film Sales
3M Co. reported a 6.9% profit increase for the first quarter amid stronger sales of respiratory face masks in China and optical films used in flat screens for tablet computers and other gadgets.

Royal Caribbean Profit Slides, But Outlook Brighter
Royal Caribbean Cruises first-quarter profit slid 65%, with the results hitting the lower end of the company's guidance, reflecting some minor voyage disruptions.

Raytheon Executive Sees New Threats Boosting Defense Budgets
A senior Raytheon Co. executive said a number of countries are revisiting their defense budgets in the wake of the crisis in Ukraine. The defense contractor also delivered a forecast-beating 21% rise in first-quarter profit.

Gazprom Bill Puts Ukraine Under Pressure
The Russian oil and gas company has billed Ukraine's state-owned Naftogaz $11.4 billion for not importing the full agreed amount of gas in 2013—which could add to Kiev's ballooning debt and give Moscow the right to demand an early repayment of a loan.

Nokia Indian Plant Likely to Be Excluded From Microsoft Deal
Unable to solve a tax dispute with Indian authorities, Nokia said it is unlikely that it would be able to include a massive phone plant in India in a wider deal to transfer its phone business to Microsoft.

China Strips Sina of Publication, Distribution Licenses
The Chinese government stripped popular Internet portal Sina Corp. of two online-publication and distribution licenses, official media said, as a crackdown on lewd content intensified.

Merrill to Advisers: Find Your 'Noble Purpose'
Merrill Lynch chief John Thiel is on a personal mission to get the firm's advisers to think beyond making money and more deeply explore why they do what they do. He asks them to ponder this question: "What is your noble purpose?"

Navistar to Boost Production at Two Plants
Navistar International Corp. said it plans to ramp up production at two plants, citing positive trends in its industry and good customer demand for its offerings.

Managers Rotating Into Cyclicals
After a brutal winter that helped suppress growth, fund managers and other investors are now moving into cyclical stocks to take advantage of improving domestic and global economies.

Obama Reassures Abe on Disputed Islands
Obama reassured Abe that if islands at the center of Japan's territorial dispute with China were attacked, the U.S. would come to Japan's aid, provoking a swift response in Beijing.

American Airlines Profit Soars
American Airlines Group Inc. said its first-quarter adjusted earnings soared with a boost from a gain on the sale of slots at Reagan National Airport that U.S. antitrust regulators required to complete its recent merger.

Draghi: ECB Is Open to Asset Purchases
European Central Bank President Mario Draghi said the institution is open to broad-based purchases of assets if consumer-price growth weakens to the point of threatening the euro zone's fledgling recovery.

PetroChina First-Quarter Profit Falls 4.9%
State-controlled PetroChina said its first-quarter net profit fell 4.9% from a year earlier, due mainly to rising costs and a decline in international crude prices.

Southwest Airlines Earnings Jump on Lower Fuel Costs
Southwest Airlines said its first-quarter income more than doubled, as the carrier posted stronger revenue and lower fuel costs despite weather problems that caused disruptions during the period.

Japan's Abe Wins Obama's Strong Backing
All in all, it was a good 24 hours for Japanese Prime Minister Shinzo Abe, who won the support of U.S. President Barack Obama on important foreign-policy issues and shared some good sushi, as well.

Quest Diagnostics' Profit Hurt by Restructuring Costs, Rough Winter
Quest Diagnostics said its first-quarter earnings fell 23.5%, hurt by restructuring and integration costs, as well as a harsh winter that weighed on revenue.

Potash Corp. Posts $340 Million Profit
Potash Corp. of Saskatchewan posted a 39% drop in first-quarter earnings Thursday, but results beat both analyst expectations and company guidance as potash demand and prices started to pick up over the three-month period.

The 10-Point: Gerard Baker on Ukraine Tension, Open Internet, Apple Earnings, State Parks and More
A personal, guided tour to the best scoops and stories every day in The Wall Street Journal, from Editor in Chief Gerard Baker.

Virgin Atlantic's Loss Narrows
Virgin Atlantic Airways expects to deliver a profit in 2014 after three successive years of losses as the airline starts to reap the benefits of a trans-Atlantic alliance with Delta Air Lines.

PulteGroup Profit Falls On Decline in New Orders, Revenue
PulteGroup said its first-quarter earnings fell 8.5% as the home builder reported a decline in new orders and felt the impact of a higher effective tax rate.

Euro-Zone Data Point to Recovery
Data from several euro-zone countries suggest the bloc's economy is gradually gaining steam, even in the face of a mounting geopolitical crisis involving one of Germany's major trading partners, Russia.

Photos: Obama Visits Tokyo
U.S. President Barack Obama is in Japan on a three-day visit as part of his four-nation Asian tour. After his arrival in Tokyo, Mr. Obama had a casual sushi dinner with Prime Minister Shinzo Abe on Wednesday night. On Thursday, Mr. Obama was welcomed by Emperor Akihito and Empress Michiko before a meeting with the prime minister, followed by a joint news conference.

Sinopec Taps Banks for Asset Sale
Sinopec appointed China International Capital, Deutsche Bank, Citic Securities and Bank of America to handle the sale of part of its retail assets, which include thousands of gas stations and convenience stores.

Cnooc's Nexen Energy CEO Steps Down
China's state-run oil producer Cnooc Ltd. said the chief executive its Canada unit Nexen Energy is being succeeded by a veteran Chinese-national engineer, but that it doesn't plan to change company strategy.

A Tough Time for Bordeaux Winemakers
The difficult 2013 growing season in Bordeaux made it seem as if nature was conspiring to tame a region that in the past decade has seen its top wines creep above the €500-a-bottle mark.

China Seeks Simple Money-Supply Calculations
An array of new financial products has complicated the task of calculating China's total money supply, and regulators will be working to improve the measurements to better reflect potential risks, a vice governor of China's central bank said.

Chinese Rules Won't Much Alter New Zealand Formula
A Chinese crackdown on infant-formula imports spells trouble for some smaller New Zealand producers, though not the companies responsible for nearly all the formula sent overseas.

U.S., Japan to Push Ahead With Trade Talks
Talks continued Friday after President Barack Obama and Prime Minister Shinzo Abe instructed their chief trade negotiators to push forward with efforts to reach a deal that is crucial to the Trans-Pacific Partnership.

Australian Central Banker Warns Against Deep Budget Cuts
Australia's government needs to be careful not to cut spending too deeply in next month's budget, warns Reserve Bank of Australia board member John Edwards.

Volvo Increases Capacity in Gothenburg
Volvo Car Corp. is increasing the manufacturing capacity at its Swedish production facility in Gothenburg from approximately 200,000 cars a year to around 300,000 a year.

South Africa Faces Capital Flight Risk
South Africa's central bank warned that yawning deficits and labor turmoil have made the economy vulnerable to capital flight as investors pull back from risky markets.

Pernod Looks to U.S. for Growth
France's Pernod Ricard is looking to bolster its presence in the U.S. with further acquisitions to make up for faltering growth in some emerging markets, Chief Executive Pierre Pringuet said.

Russia Warns Ukraine as 'Antiterror' Operation Resumes
Russia warned that any attack on its citizens in Ukraine would be considered an attack on Russia itself, as the Ukrainian government resumed its military operation against pro-Russian militants.
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Obama: U.S. Ready to Ramp Up Russia Sanctions
President Obama said Russia hasn't abided by an agreement to de-escalate tensions in Ukraine, and he warned that the U.S. is prepared to impose additional costs.

Six Chinese Banks Allowed to Use New Capital Rules
China's banking regulator is letting six big banks use their own models for calculating their capital ratios, giving them greater flexibility in risk evaluation and the use of their assets.

Most Lose From Special Tax Breaks
Targeted tax breaks cause malinvestment. Every time tax policy props up some special "winner," the "losers" are the other more efficient companies that, absent the special deals, would be getting funded.

Chinese Firms Unveil Shanghai IPO Plans
Huadian Heavy Industries and Shanghai M&G Stationery released their draft IPO plans, with an aim of raising a total of $499 million ahead of listings on the Shanghai Stock Exchange.